Honduran Economy Expects to Grow to 3.7% in 2019

By 2019, the country's Gross Domestic Product is expected to grow between 3.3% and 3.7%, compared to what was reported in 2018.

Friday, March 29, 2019

The Honduran economy, measured through the Gross Domestic Product (GDP), registered a 3.7% growth in real terms in 2018, driven by the dynamism of consumption and investment of the private sector, as well as by external demand for domestic products, mainly goods for transformation (maquila), so it is expected that in 2019 the behavior will be similar, explains the Central Bank of Honduras (BCH).

The report states that "The BCH inflation forecasts indicate that for the end of 2019 and 2020 the total inflation would be around the central value of the tolerance range established by the BCH, the above is explained by the expected normalization in the effect of the adjustment of the electric energy tariffs made in 2018, added to the deceleration foreseen in the prices of fuels, as well as by lower pressures of aggregate demand, result of the moderation in the economic activity.

Additionally, for these years an economic growth between 3.3%-3.7% is estimated; as well, the external position would continue strengthened, with a deficit in current account lower than 2018 and a coverage of international reserves of at least 5.0 months of import of goods and services. The BCH, in accordance with its objective of maintaining the internal and external value of the currency, will keep adopting measures to guarantee price stability, reaffirming its commitment to implement monetary, credit and exchange policy measures in a timely manner.

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The Central Bank has revised down its year-on-year GDP growth forecast for 2018, from the range of 3.8% to 4.2%, projected at the beginning of the year, to a range of 3.6% to 4%, but has kept the projection of inflation unchanged.

From a statement issued by Banco Central de Honduras:

Honduras: GDP to Grow between 3.4% and 3.7% in 2017

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The Central Bank has forecast for this year inflation of 4.5% with a margin of ± 1%, and annual growth of 3.6% in exports.

From a report by the Central Bank:

The Central Bank of Honduras (BCH), through Resolution No.81-3 / 2017 of March 2, 2017, approved the 2017-2018 Monetary Program (MP), which sets out the measures for monetary, credit and exchange policy and the prospects of the Honduran economy and the international context for a two-year horizon, in order to guide operators and the general public in decision-making and formation of expectations. 

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